November 19, 2020
Aimbridge Hospitality Expands Aimbridge Receiver Services
The third-party management company has seen tremendous success in stabilizing hotel assets and recovering lost value through COVID-19 and beyond.
Aimbridge Hospitality, the leading, global, third-party hotel management company, is drawing from its wealth of experience to expand its Aimbridge Recovery Services (ARS), focused on stabilizing hotels with distressed debt and recovering lost value due to the ongoing challenges in the hospitality industry.
ARS is a new platform providing lenders and special servicers the expertise and assistance in navigating distressed assets. The platform is solely dedicated to hotel distressed assets, and Aimbridge has an ARS specialized team to handle all functions including, legal, operations, receivership, financial reporting, and franchise negotiations.
"We learned from previous financial downturns that working with lenders and special servicers is not a part-time effort. We created ARS with dedicated, seasoned veterans who have the experience of over 200 previous distressed assignments,” said Aimbridge Hospitality CEO Dave Johnson. “This capability allows us to leverage Aimbridge's scale for the benefit of the financial community."
Using the Company's extensive knowledge, resources, industry leading data and tools, the ARS team quickly assesses and executes strategies to stabilize and rapidly reposition hotels. The team assists lenders, servicers, and hotel owners with their non-performing hotel loans going through foreclosure, bankruptcy, workouts, and receivership. They offer court-appointed receivership services, the recommendation of immediate cost containment strategies, workout strategies, brand assessment and negotiation, and asset disposition assistance.
Edward Blum and Mark LeBlanc, Executive Vice Presidents of Development & Acquisitions, agree, "Our ARS team is perfectly positioned to leverage our scale and deep experience across all hospitality verticals, brands, markets, and sub-markets, quickly assessing the landscape and executing on strategies."
Aimbridge Hospitality's geographic coverage across the U.S. is unmatched and provides scale benefits while leveraging localized resources. With expertise across all hospitality verticals, from Luxury to Economy, Full Service to Select Service, Aimbridge can support any property in need. Aimbridge Hospitality is also the largest third-party operator of franchised Marriott, Hilton, and Hyatt branded hotels worldwide. For more on ARS, visit here.